Power contracting firm set to close
The specialist power contracting business at Interserve is to close as part of an ongoing review to improve business efficiency.
The Wakefield-based division of the outsourcing company has delivered services to the power transmission and distribution industry for more than 90 years. A total of 70 staff members are expected to be made redundant or redeployed.
Debbie White, Interserve’s chief executive, is reviewing all operations at the group as Interserve deals with debt expected to peak at over £500m in the first half of this year.
The specialist division has worked with network operators including Northern Powergrid, Scottish Power Energy Networks, Siemens and National Grid.
It is understood that existing contracts will be completed in a staged wind-down of the business.
An Interserve spokesperson told the Construction Enquirer: “We can confirm we are undergoing an operational restructure within our industrial division.
“After careful consideration we have decided to close down our power business, as we look to consolidate and centralise our industrial portfolio.
“We are committed to completing all contracted works and anticipate the majority of projects will be complete by the end of June 2018.
“All employees affected have been informed of the decision, with a consultation period running until early April. We are working internally to ensure as many people are redeployed within the business.”
